MAN 3025 Exam 1 Study Guide Solutions
organization - ANSWER-a group of people who work together to achieve some specific purpose
management - ANSWER-the pursuit of organizational goals efficiently and effectively by integrating
the work of people through planning, organizing, leading and control...
competitive advantage - ANSWER✔✔-the ability of an organization to produce goods or services more
effectively than competitors do, thereby outperforming them
innovation - ANSWER✔✔-finding ways to deliver new or better goods or services
sustainability - ANSWER✔✔-economic development that meets the needs of the present without
compromising the ability of future generations to meet their own needs
top managers - ANSWER✔✔-make long-term decisions about the overall direction of the organization
and establish the objectives, policies, and strategies for it
middle managers - ANSWER✔✔-implement the policies and plans of the top managers above them and
supervise and coordinate the activities of the first-line managers below them
first line managers - ANSWER✔✔-make short-term operating decisions, directing the daily tasks of non-
mangerial personnel
team leader - ANSWER✔✔-a manager who is responsible for facilitating team activities toward achieving
key results
functional manager - ANSWER✔✔-responsible for just one organizational activity
general manager - ANSWER✔✔-responsible for several organizational activities
for-profit organization - ANSWER✔✔-goal is to make money, or profits, by offering products or services
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